Tejas (Student) (37 Points)
27 March 2012Assesse has sold a long term capital asset on 22nd September 2011, amount of long term gain Rs.30 lacs.
So as per Section 54EC what will be the last date for availability of exemption ?
Is it calculated on monthly on monthly basis i.e from September to March (6months) or from 22nd Sept 2011 to 21March 2012 ?
CA Ankit Totla
(Practicing Chartered Accountant)
(469 Points)
Replied 27 March 2012
Section 54EC mentions the time limit to be six months from the DATE OF TRANSFER.. so the 6 months are to be calculated from that date and not frm the month of transfer..
Rahul
(Chartered Accountnat CS)
(1580 Points)
Replied 27 March 2012
CAclubindia
